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Business EconomyPosted at: Jan 25 2017 11:30PM


WTC organises Open House Meet with exporters

Panaji, Jan 25 (UNI) The Government of India in its Foreign Trade Policy for 2015-20 has targeted to increase the share of exports from current two per cent to 3.5 per cent corresponding to USD 900 billion, Ramesh Holeyachi, deputy director general of Foreign Trade, Goa, said today.
Speaking at an interactive session held at Thivim Industrial Estate, around 18 km from here, to clear doubts among the exporters regarding the new schemes for exporters and the new tax regime of the Goods and Services Tax (GST), Mr Holeyachi said, ''...Exports is the growth engine for the country, as it increases trade, helps us in earning valuable foreign exchange and also generates employment.''
He identified that lack of awareness of the various export schemes is one of the main reasons for low exports from the country and guided the deliberations on the recently introduced REX (Registered Export System) Policy of the European Union.
Mr Holeyachi also briefed on Merchandize Export from India Scheme (MIES), the Service Export from India Scheme (SIES), EPCG Scheme for promotion of Capital Goods and the Niryat Bandhu Scheme for mentoring new and potential exporters.
The open house meet was jointly organized by the World Trade Centre, Goa, Director General of Foreign Trade, Thivim Industrial Estate Industries Association, Department of Customs and World Trade Centre, Mumbai.
Gaurav Jain, assistant commissioner, Customs & Central Excise, said GST would help in ease of doing business, as all old manual systems would be replaced by online processes.
GST would bring in better tax compliance and was crucial for success of ‘Make in India’ the flagship programme of the Government of India, he added.
Earlier, in his Welcome address A O Kuruvila, advisor, World Trade Centre, Mumbai, highlighted that Brexit had thrown a big challenge for Indian exports and the Director General of Foreign Trade and the Department of Customs were two major agencies which were facilitating Indian businesses to go global. ''India now ranks 130 out of 199 countries in the ease of doing business,'' he added.
S P Vernekar, president of Thivim Industrial Estate Industries Association, and Gurudatta Bhakta, president of The Goa Cashew Feni Distillers and Bottlers Association, were present on this occasion.
Cyril Desouza, assistant director, Trade Promotion, World Trade Centre, Goa conducted the event and proposed the vote of thanks.
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